“Chávez doesn’t want a significant asset in the US at a time when Venezuela is engaged in legal problems . . . Venezuela might well lose, and Citgo is a sitting duck,” says Gustavo Coronel, a former director at PDVSA.

As soon as a bunch of arbitration filings were filed a few months ago Chavez came out with the statement that Citgo should be sold because it "Was losing money" he announced to his people. It wasn't losing money actually.

. He saw this as the Vz equity that will like be impounded when its time to pay up, if he doesn't come up with the cash (he seldom does) in arbitration settlements. So if he can sell the company Citgo and stash the cash, the liquid assets Vz hold is reduced by a lot to avoid paying compensation to companies that win arbitration. . Anyway in the end there are alternatives because his involvement in selling his oil is international and he cannot avoid paying up as did Cuba avoid it in the 50's when they had nothing abroad to seize. Cuba is the source of his advice.